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State Name: New Jersey
State Name underscore: New_Jersey
State Name dash: New-Jersey
State Name lower underscore: new_jersey
State Name lower dash: new-jersey
State Name lower: new jersey
State Abbreviation: NJ
State Abbreviation Lower: nj

If you've been following the MBS Commentary, you know what a big deal this afternoon could be. Markets have been preparing for it for weeks and MBS Live members have been on top of those movements every step of the way.

This afternoon, when markets are convulsing mere milliseconds after the Fed Announcement, MBS Live members will know what's going on before anyone else. The accuracy and speed of our real-time price stream and alerts is unmatched.

MBS Week Ahead: Short and Busy With at Least One Major Market Mover on Tap

Sep 2 2014, 7:25AM

While the week ahead is shorter than normal thanks to Labor day, it's no less relevant. In fact, it's probably quite a bit more relevant than anything we had in August for several very good reasons.

None of those reasons have anything to do with the important domestic economic data on tap. After all, that'd be silly given just how well markets have been able to ignore it in favor of European markets and geopolitical risk. That said, several of this week's reports can't be ruled out as market movers. That's especially true--as always--of Friday's Nonfarm Payrolls, but we also get ISM Manufacturing data on Tuesday, and Non-Manufacturing on Thursday and again on Thursday, along ADP Employment (later than normal due to short week). All of these reports can move markets, and frequently do.

Significantly more important than the US economic data is the European Central Bank's (ECB) policy announcement and press conference with ECB President Draghi. That's because the prospects for ECB quantitative easing are driving steady, long-term bond market gains above all other factors. Markets don't widely expect ECB QE to be announced at their meeting this Thursday morning, but traders will listen to Draghi intently for clues as to how it could take shape, when and if it eventually get's underway.

MBS Pricing Snapshot

Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.

MBS

FNMA 3.0

99-16 : +0-00

FNMA 3.5

102-30 : -0-01

FNMA 4.0

105-30 : +0-00

Treasuries

2 YR

0.5040 : +0.0120

10 YR

2.3820 : +0.0370

30 YR

3.1340 : +0.0490

Pricing as of 9/2/14 7:24AMEST

Tomorrow's Economic Calendar

Time

Event

Period

Forecast

Prior

Tuesday, Sep 02

10:00

ISM Manufacturing PMI *

Aug

56.8

57.1

10:00

Construction spending (%)*

Jul

1.0

-1.8

Wednesday, Sep 03

7:00

Mortgage Market Index

w/e

352.0

9:45

ISM-New York index *

Aug

644.4

10:00

Factory orders mm (%)

Jul

11.0

1.1

Thursday, Sep 04

8:15

ADP National Employment (k)*

Aug

220

218

8:30

International trade mm $ (bl)*

Jul

-42.2

-41.5

8:30

Initial Jobless Claims (k)*

w/e

300

298

10:00

ISM N-Mfg PMI *

Aug

57.5

58.7

Friday, Sep 05

8:30

Non-farm payrolls (k)*

Aug

225

209

8:30

Unemployment rate mm (%)*

Aug

6.1

6.2

8:30

Private Payrolls (k)*

Aug

208

198

About the Author

A former originator, Matthew began writing for Mortgage News Daily in 2007, covering a wide range of topics. Seeing a need in the marketplace, his focus increasingly shifted toward relating MBS and broader financial markets for loan originators.
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